White Paper

The Cyber Insurance Market Is Booming. How to Stay on Top of Evolving Exposures

The cyber insurance market may reach close to $100 billion by 2030. An increasing reliance on technology and a growing industry of cybercriminals are the driving factors.

White Paper Summary

In the near future, the insurance industry might just see the abbreviation “P&C” become “PC&C” — property, casualty and cyber.

Experts predict the market will double from $15 billion to more than $30 billion over the next five years, and it could reach close to $100 billion by 2030. Once purchased primarily by large enterprises in the U.S. and Europe, cyber insurance is now becoming a must-have investment for companies of all sizes.

“It’s becoming more common for all businesses, across all industries, continents, and sizes — even down to sole proprietorships and main-street types of businesses — to buy cyber insurance,” said Patrick Thielen, global head of cyber, Liberty Mutual Insurance.

As cyber risks continue to evolve, companies will turn to the market to meet their cyber insurance needs and offer proactive risk management solutions. Cyber insurers partner with clients to offer a broad range of cyber risk management, underwriting, and incident response capabilities.

To learn more about Liberty Mutual Insurance, please visit their website.

Liberty Mutual Insurance offers a wide range of insurance products and services, including general liability, property, commercial automobile, excess casualty and workers compensation.

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